The idea of probability and odds are sometimes used as the same thing by people, but they are actually two different things. So, the odds can be any positive number, it does not have to be a number between 0 and 1. Or for example, if there are 8 equally likely individual outcomes, and 6 of them favor of an event, and 2 are against the event, then the odds for the occurrence of the event are "6 to 2", or "6/2" or simply 3. The odds for the occurrence of an event are simply the probability of occurrence of an event, divided by the probability that the event does not occur. Of odds and probability, and often times, they incorrectly use them, most typically interchanging probability by odds. It is common for people to have a confusion between the concepts So that you can better understand the elements used in this calculator.
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